Benzinga – A civil securities lawsuit against Ripple Labs (CRYPTO: XRP) is set to proceed to trial, following a ruling by a California judge.
What Happened: The court denied part of Ripple’s motion for summary judgment, focusing on allegations that Ripple’s CEO violated state securities laws in 2017, Coindesk reported.
The upcoming trial will examine whether Ripple CEO Brad Garlinghouse made “misleading statements” about the sale of securities during a 2017 televised interview.
Judge Phyllis Hamilton of the U.S. District Court for the Northern District of California dismissed four other claims in the class action lawsuit, specifically the “failure to register claims.”
In response to the ruling, Ripple’s Chief Legal Officer Stu Alderoty stated in an email, “We are pleased that the California court dismissed all class action claims.
The one individual state law claim…
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